Chicago Cheat Sheet: $280M rehab of 95th Street Red Line complete…& more

Also, a REIT controlled by Deutsche Bank buys Elston Plaza shopping center

Jan.January 04, 2019 05:00 PM

Renovated 95th Street station (Credit: Twitter and iStock)

CTA unveils $280M Red Line station makeover

City leaders celebrated the end of a four-year effort to rebuild the busy 95th Street Red Line station in Roseland. It was the most expensive project in the history of the CTA. The work added a new terminal and more than doubled the number of bus bays at the station, which serves about 20,000 daily riders. [Chicago Tribune]

DWS Group acquires 93K sf Elston Plaza

RREEF Property Trust Inc,, a REIT controlled by Deutsche Bank-affiliated DWS Group, bought Elston Plaza. The Jewel-Osco-anchored shopping center is at the intersection of Addison Street, and Elston and Kedzie avenues. The retail center comprises some 93,000 square feet and is about 96 percent leased with 11 tenants. The sale price was not announced. [RE Journals]

Brookfield imposes weekend hours on Water Tower Place’s teen visitors

Water Tower Place owner Brookfield Properties will begin carding visitors to the mall after 4 p.m. on Fridays and Saturdays. It will bar entry to anyone under the age of 18. Managers of the building announced the crackdown as a way to curtail groups of teens who they claim have harassed — and in at least one case, assaulted — shoppers. [Chicago Tribune]

McHenry plans to complete riverwalk expansion by summer

The private McHenry Riverwalk Foundation announced it will begin building the third phase of the northwest suburb’s riverwalk, linking the first two sections into a continuous esplanade along the Fox River. The project is expected to cost about $454,00 and be completed by June 30. [Northwest Herald]

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